PNM Resources, Inc. (NYSE:PNM) Short Interest Update

Posted by MarketBeat News on Aug 1st, 2022

PNM Resources, Inc. (NYSE:PNM – Get Rating) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 4,830,000 shares, an increase of 37.6% from the June 30th total of 3,510,000 shares. Based on an average trading volume of 619,000 shares, the short-interest ratio is currently 7.8 days. Approximately 5.7% of the company’s shares are short sold.

PNM Resources Trading Down 0.4 %

Shares of PNM opened at $48.27 on Monday. The firm’s 50-day moving average price is $46.97 and its 200-day moving average price is $46.41. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 3.65 and a beta of 0.44. The company has a current ratio of 0.45, a quick ratio of 0.34 and a debt-to-equity ratio of 1.67. PNM Resources has a 1-year low of $43.43 and a 1-year high of $50.11.

PNM Resources (NYSE:PNM – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The utilities provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.45 by $0.05. PNM Resources had a net margin of 10.68% and a return on equity of 10.38%. The business had revenue of $444.12 million for the quarter, compared to analyst estimates of $382.37 million. During the same quarter in the previous year, the firm posted $0.32 earnings per share. PNM Resources’s quarterly revenue was up 21.8% on a year-over-year basis. Sell-side analysts anticipate that PNM Resources will post 2.6 EPS for the current year.

Institutional Investors Weigh In On PNM Resources

Several hedge funds have recently bought and sold shares of PNM. New York State Teachers Retirement System boosted its stake in PNM Resources by 24.4% during the fourth quarter. New York State Teachers Retirement System now owns 74,673 shares of the utilities provider’s stock worth $3,406,000 after acquiring an additional 14,658 shares in the last quarter. Van ECK Associates Corp boosted its stake in PNM Resources by 24.4% during the fourth quarter. Van ECK Associates Corp now owns 37,234 shares of the utilities provider’s stock worth $1,698,000 after acquiring an additional 7,311 shares in the last quarter. State of Michigan Retirement System raised its holdings in PNM Resources by 1.4% in the fourth quarter. State of Michigan Retirement System now owns 21,757 shares of the utilities provider’s stock worth $992,000 after buying an additional 300 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in PNM Resources by 4.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 56,797 shares of the utilities provider’s stock worth $2,591,000 after buying an additional 2,601 shares during the last quarter. Finally, Yousif Capital Management LLC purchased a new position in PNM Resources in the fourth quarter worth about $2,025,000. Institutional investors own 86.59% of the company’s stock.

Analyst Ratings Changes

Separately, Mizuho raised shares of PNM Resources from a “neutral” rating to a “buy” rating and cut their target price for the company from $53.00 to $52.00 in a research note on Wednesday, June 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, PNM Resources currently has a consensus rating of “Hold” and an average target price of $49.00.

PNM Resources Company Profile

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PNM Resources, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity.